Section 36-7-31.3-19 - Use of funds The resolution establishing the tax area must designate the use of the funds. The funds are to be used only for the following:
(1) Except in a tax area in: (A) the city of Fort Wayne; or(B) the city of Gary; a capital improvement that will construct or equip a facility owned by the city, the county, a school corporation, or a board under IC 36-9-13, IC 36-10-8, IC 36-10-10, or IC 36-10-11 and used by a professional sports franchise for practice or competitive sporting events. In a tax area to which this subdivision applies, funds may also be used for a capital improvement that will construct or equip a facility owned by the city, the county, or a board under IC 36-9-13, IC 36-10-8, IC 36-10-10, or IC 36-10-11 and used for any purpose specified in section 8(a)(2) of this chapter.
(2) In the city of Fort Wayne, a capital improvement that will construct or equip a facility owned by the city, the county, a school corporation, or a board under IC 36-9-13, IC 36-10-8, IC 36-10-10, or IC 36-10-11 and used for any purpose specified in section 8(a) of this chapter.(3) In the city of Gary, a capital improvement that will construct or equip a facility owned by the city, the county, or a board under IC 36-9-13, IC 36-10-8, IC 36-10-10, or IC 36-10-11 and used for any purpose specified in section 8(a)(1) or 8(a)(2) of this chapter.(4) The financing or refinancing of a capital improvement described in subdivision (1), (2), or (3) or the payment of lease payments for a capital improvement described in subdivision (1), (2), or (3).Amended by P.L. 104-2022,SEC. 195, eff. 4/1/2022.Amended by P.L. 119-2012, SEC. 213, eff. 4/1/2012.As added by P.L. 255-1997 (ss), SEC.20. Amended by P.L. 178-2002, SEC.131; P.L. 64-2004, SEC.37.